TCG BDC, Inc. Aktie News

Carlyle Secured Lending's portfolio quality deteriorated in 1Q25, with non-accruals rising and net investment income dropping 25% year-over-year. The dividend payout ratio hit 100% (112.5% including supplemental), erasing the margin of safety and making the 12% yield unsustainable. The Company trades at a 17% discount to NAV, reflecting market concerns about credit quality and dividend sustaina...

BDCs face a number of misconceptions in the commentariat having to do with earnings, dividend coverage, and more. Short-term rates are still attractive, BDC valuations are reasonable, and portfolio quality has improved; floating-rate assets remain compelling even at lower levels. Investors should focus on rigorous analysis, valuations, and NII yield, not simplistic headlines or price momentum.

Despite recent financial declines, I remain bullish on CGBD due to its significant discount to NAV and attractive entry point. The closed merger should provide size, scale, and accretive benefits in upcoming quarters, likely improving financials and supporting price appreciation. CGBD's strong balance sheet, no debt maturities until 2028, and reduced leverage position it well for future opportu...

CGBD features an 11.5% yield and trades at a 16% discount to NAV. The recent merger with CSL III increased portfolio size, improved first-lien allocation, and eliminated preferred stock dilution overhang. Despite a slight NAV decline and rising non-accruals, portfolio quality remains solid and returns are in line with the sector average.

We take a look at the action in business development companies through the first week of June and highlight some of the key themes we are watching. BDC are flat year-to-date on average, with valuations below historical averages. Net investment income declines are sector-wide, driven by rate changes, not management issues; NII is expected to stabilize as rates have leveled off.

Small-cap stocks haven't been this cheap in decades. This valuation advantage gets interesting when we add big fat dividends and today, we'll discuss five cheap small caps yielding between 8.3% and 17.1%.

Carlyle Secured Lending's fundamentals remain solid, but rising non-accruals and shrinking net investment income raise concerns about portfolio health and dividend sustainability. Despite a 21% price drop and a 12.4% dividend yield, I maintain a hold rating due to ongoing NAV declines and limited earnings coverage for distributions. The portfolio's first lien, senior secured focus, and floating...

We take a look at the action in business development companies through the fourth week of May and highlight some of the key themes we are watching. BDC sector pulled back 2% this week, but remains up 2.5% month-to-date; valuations are about 5% below historic averages. Despite headlines of credit stress, BDC portfolios' interest income continues to offset markdowns and non-accruals, supporting s...